The US Senate has passed legislation that provides more than $250bn to help maintain a competitive edge over China in areas from artificial intelligence and quantum computing to semiconductors.
The Senate on Tuesday voted 68-32 to pass the bill, underscoring broad bipartisan support in Congress to take action to counter Beijing. The US Innovation and Competition Act stitches together various China-related measures into the biggest piece of industrial policy legislation in decades.
The legislation provides $52bn to bolster the semiconductor industry on rising concerns that the US is too reliant on countries such as Taiwan at the same time that China is striving to build its semiconductor industry.
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